Mahindra Asset Management Company has set a target to handle assets under management of about Rs 7,000 crore and increase its presence to 500 cities during the current financial year, its MD and CEO, Ashutosh Bishnoi said.
Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Exelon Infrastructure and its three directors to recover dues of over Rs 46 lakh.
The mutual fund industry picked up in June with total net inflows of Rs 46,475 crore as against net outflows of Rs 50,000 crore in May, rating agency ICRA said.
The IPO lane is getting busy as at least seven companies, including Lodha Developers and HDFC Mutual Fund, are expected to hit the capital market in the coming week to raise over Rs 14,000 crore.
Repo platforms launched by leading bourses for tripartite repurchase of corporate bonds is expected to improve liquidity and investor appetite for these securities, which in turn will boost the corporate debt market, said a report.
Gold ETFs continued to lose steam with investors pulling out nearly Rs 150 crore from the instrument in the April-June quarter, favouring equities.
India's broader index .NSEI has gained about 3 percent this year, compared with a 5 percent fall in MSCI Asia ex-Japan index .MIAPJ0000PUS.
Investment platform Groww today said it has raised USD 1.6 million (about Rs 11 crore) in funding from a clutch of investors including Insignia Ventures, Lightbridge, Kairos among others.
In a blockbuster performance, as many as 18 cos have raised a staggering Rs 23,670 crore through IPO in the first half of this year, almost double from the year-ago period.
Shares of Yes Bank rose by 4 percent after the company received approval from capital markets regulator Sebi to start mutual fund business.